Contravisory Investment Management Inc. decreased its position in Accenture PLC (NYSE:ACN) by 5.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 58,070 shares of the information technology services provider’s stock after selling 3,572 shares during the period. Accenture PLC accounts for approximately 2.6% of Contravisory Investment Management Inc.’s portfolio, making the stock its 5th largest position. Contravisory Investment Management Inc.’s holdings in Accenture PLC were worth $7,182,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of ACN. Vanguard Group Inc. increased its position in shares of Accenture PLC by 6.2% in the first quarter. Vanguard Group Inc. now owns 47,379,397 shares of the information technology services provider’s stock worth $5,679,843,000 after buying an additional 2,749,896 shares in the last quarter. BlackRock Inc. increased its position in shares of Accenture PLC by 2,139.5% in the first quarter. BlackRock Inc. now owns 39,462,967 shares of the information technology services provider’s stock worth $4,730,821,000 after buying an additional 37,700,871 shares in the last quarter. State Street Corp increased its position in shares of Accenture PLC by 2.7% in the first quarter. State Street Corp now owns 25,356,641 shares of the information technology services provider’s stock worth $3,039,762,000 after buying an additional 665,860 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Accenture PLC by 8.8% in the first quarter. Wellington Management Group LLP now owns 21,583,126 shares of the information technology services provider’s stock worth $2,587,385,000 after buying an additional 1,738,262 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Accenture PLC by 4.7% in the first quarter. Bank of New York Mellon Corp now owns 13,907,609 shares of the information technology services provider’s stock worth $1,667,243,000 after buying an additional 625,381 shares in the last quarter. 77.48% of the stock is currently owned by institutional investors.

Shares of Accenture PLC (NYSE ACN) traded down 0.03% on Friday, reaching $128.20. 1,105,546 shares of the company’s stock traded hands. The firm has a market capitalization of $79.23 billion, a P/E ratio of 22.70 and a beta of 1.11. Accenture PLC has a 52 week low of $108.83 and a 52 week high of $130.67. The company’s 50-day moving average is $126.66 and its 200-day moving average is $122.51.

Accenture PLC (NYSE:ACN) last released its earnings results on Thursday, June 22nd. The information technology services provider reported $1.52 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.52. The firm had revenue of $8.87 billion during the quarter, compared to analysts’ expectations of $8.82 billion. Accenture PLC had a net margin of 9.92% and a return on equity of 43.96%. The business’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.41 EPS. Equities research analysts anticipate that Accenture PLC will post $5.90 earnings per share for the current fiscal year.

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ACN has been the topic of a number of research reports. BidaskClub downgraded shares of Accenture PLC from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 28th. Morgan Stanley set a $132.00 target price on shares of Accenture PLC and gave the company a “hold” rating in a research note on Friday, June 16th. Robert W. Baird reissued a “neutral” rating and issued a $138.00 target price (up previously from $132.00) on shares of Accenture PLC in a research note on Wednesday, June 14th. Cowen and Company raised their target price on shares of Accenture PLC from $131.00 to $135.00 and gave the company an “outperform” rating in a research note on Wednesday, June 28th. Finally, Cantor Fitzgerald reissued a “buy” rating and issued a $135.00 target price on shares of Accenture PLC in a research note on Monday, May 29th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $130.71.

In related news, insider Gianfranco Casati sold 5,000 shares of the company’s stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $130.00, for a total transaction of $650,000.00. Following the completion of the transaction, the insider now directly owns 56,014 shares in the company, valued at approximately $7,281,820. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, General Counsel Chad T. Jerdee sold 3,200 shares of the company’s stock in a transaction on Monday, June 26th. The shares were sold at an average price of $122.97, for a total transaction of $393,504.00. Following the transaction, the general counsel now owns 18,566 shares of the company’s stock, valued at $2,283,061.02. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 79,817 shares of company stock valued at $9,920,929. Corporate insiders own 0.21% of the company’s stock.

About Accenture PLC

Accenture plc is a professional services company serving clients in various industries and in geographic regions, including North America, Europe and Growth Markets. The Company provides management and technology consulting services. Its segments include Communications, Media and Technology; Financial Services; Health and Public Service; Products, and Resources.

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Institutional Ownership by Quarter for Accenture PLC (NYSE:ACN)

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